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Thursday, April 25, 2019

Rosbank arranges syndicated term loan facility for Absolut Bank

Russia's Rosbank announced on Thursday that it acted as the mandated lead arranger of a $90 million syndicated term loan facility for Absolut Bank.

Alfa-Bank, JSC VTB Bank, Sviaz-Bank and VTB Bank (Deutschland) AG acted as initial mandated lead arrangers and book runners, while Commerzbank AG joined into the deal as the facility agent. The agreement was signed on March 20.

The one-year facility, which bears an interest rate of LIBOR3M + 3 percent per annum, will be used for Absolut Bank's general corporate purposes. The amount of the syndicated loan can be increased with the accession of new lenders, according to the facility agreement's conditions.

Rosbank is part of the Societe Generale Group and provides all types of banking services to individual and corporate customers. The bank's subsidiaries are Rusfinance for consumer financing and DeltaCredit for mortgage lending.

Rosbank ranks as one of Russia's top 10 banks in terms of assets and equity.